Hi All,
One question, if i will to rent out my PPOR when i am posted overseas for work? Some years down the road, when i return to OZ again, and if i decide to upgrade to a bigger house, will there be a CGT on my PPOR?
Cheers
NitIf it is rented for less than 6 years, there will be no CGT.
due to being able to nominate the PPOR for CGT exemption even if you are using it as an IP as long as you do not have another PPOR that is being claimed for CGT exemption at the same time.
http://www.ato.gov.au/individuals/content.asp?doc=/content/36887.htm
I am not sure if you are able to claim interest costs, expenses incurred as tax deductions in this main residence exemption time period.Iam new to the forum, therefore I would firstly like to say hi to all the exising and potential members.
The forum has been very interesting and I hope to contribute also in the nea future.My question is that I have approximately 500-600k of equity in my properties. i currently live in a duplex which I shall be selling shortly as I am moving to brisbane. After selling the duplex I would have approximately 200k plus (including cash&equity).
My second property is in Wynnum/manly brisbane. It is only a block of land free from any debts (400-550K). It is only 700m to water with city, gateway bridge, bribane port views, golf, shopping centre 2.5k away & schools nearby. Electric train services are also 700m away with all the needed facilities. Wynnum is going through neighbourhood planning and has a lot of potential.What I would like to do is build a house on the land for approx (400-500K) and have it as an investment property (I/O) and built up more equity keeping in mind the plans for wynnums future.
upon arrival in brisbane I intend to live near city for work purposes and rent for the time being.Could you please advice, if Iam on the right track for now and how I can best utilise the equity.
Thank you
Jay
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